Notable Runner: Is Buying 52-Week Stock Like Sun Life Financial Inc a Winning Strategy?

Notable Runner: Is Buying 52 Week Stock Like Sun Life Financial Inc a Winning Strategy?

The stock of Sun Life Financial Inc (NYSE:SLF) hit a new 52-week high and has $47.50 target or 21.00% above today’s $39.26 share price. The 8 months bullish chart indicates low risk for the $24.26B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $47.50 price target is reached, the company will be worth $5.09B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 367,289 shares traded hands. Sun Life Financial Inc (NYSE:SLF) has risen 13.58% since April 19, 2016 and is uptrending. It has outperformed by 9.72% the S&P500.

Sun Life Financial Inc (NYSE:SLF) Ratings Coverage

Out of 10 analysts covering Sun Life Financial Inc. (NYSE:SLF), 7 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 70% are positive. Sun Life Financial Inc. has been the topic of 17 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, September 21 by Bank of America. The stock of Sun Life Financial Inc (NYSE:SLF) has “Buy” rating given on Wednesday, December 23 by Argus Research. Jefferies maintained Sun Life Financial Inc (NYSE:SLF) rating on Wednesday, July 27. Jefferies has “Hold” rating and $15 price target. Barclays Capital maintained Sun Life Financial Inc (NYSE:SLF) rating on Monday, March 7. Barclays Capital has “Overweight” rating and $44 price target. The company was maintained on Friday, September 11 by RBC Capital Markets. The company was upgraded on Thursday, September 10 by Macquarie Research. RBC Capital Markets maintained Sun Life Financial Inc (NYSE:SLF) rating on Friday, November 6. RBC Capital Markets has “Outperform” rating and $52 price target. The firm earned “Neutral” rating on Thursday, November 5 by Macquarie Research. The company was upgraded on Thursday, August 6 by Credit Suisse. Bank of America initiated the shares of SLF in a report on Wednesday, August 24 with “Underperform” rating.

According to Zacks Investment Research, “SUN LIFE FINL is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.”

More notable recent Sun Life Financial Inc (NYSE:SLF) news were published by: Theglobeandmail.com which released: “Sun Life overhauling life insurance application process in Canada” on November 21, 2016, also Business.Financialpost.com with their article: “Sun Life Financial Inc downgraded, investors told to ‘manage their expectations'” published on November 17, 2016, Businessinsider.com published: “UPDATE 1-Sun Life Financial profit beats on strength in U.S., Canada” on November 09, 2016. More interesting news about Sun Life Financial Inc (NYSE:SLF) were released by: Nasdaq.com and their article: “Sun Life Financial Inc. Earnings Climb 21% In Q3” published on November 09, 2016 as well as Forbes.com‘s news article titled: “Sun Life Financial’s Preferred Shares Series 3 Yield Pushes Past 5%” with publication date: November 04, 2016.

SLF Company Profile

Sun Life Financial Inc. (Sun Life Financial), incorporated on August 5, 1999, is the holding firm of Sun Life Assurance Company of Canada. The Firm is a financial services organization providing a range of protection and wealth services and products to individuals and corporate customers. The Firm operates in five divisions: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate. The Firm operates in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda.

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